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1.3 Price determination in a competitive market

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Question 42

The price elasticity of supply for freshly harvested organic strawberries is most likely to be:

A

determined primarily by the ease with which consumers can switch to close substitutes like organic raspberries.

B

greater when there are tighter legislative restrictions on the employment of temporary migrant pickers.

C

higher in the short run than in the long run due to immediate crop yield limits.

D

lower than that of frozen strawberries because the highly perishable nature of fresh fruit prevents warehousing and stockholding.

Markscheme

1.3 Price determination in a competitive market Questions

  1. A Level
  2. /Economics
  3. /1.3 Price determination in a competitive market

256 exam-style questions on AQA A Level Economics 1.3 Price determination in a competitive market, covering 1.3.1 The determinants of the demand for goods and services, 1.3.2 Price, income and cross elasticities of demand, 1.3.3 The determinants of the supply of goods and services, 1.3.4 Price elasticity of supply, 1.3.5 The determination of equilibrium market prices, and 1.3.6 The interrelationship between markets. Each one has a worked solution and a mark scheme showing where the marks go.

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